Consumers are increasingly relying on our 83 million reviews when choosing where to spend their money, making Yelp the ideal place for local businesses to advertise. To better leverage Yelp’s strengths with consumers and local businesses, we decided to phase out brand advertising by the end of the year. We believe that eliminating brand advertising, which we also refer to as our display advertising product, will benefit the company over the long-term. The industry trend towards increasingly disruptive display advertising is at odds with our focus on the consumer experience, particularly within the app.

Direct brand advertising sales is in decline, while programmatic advertising has its own challenges with privacy implications, ever declining CPMs, and lower ad quality.

While we recognize there is a near-term impact on revenue and adjusted EBITDA, we believe this is the right decision for the long-term success of the company.

An echo chamber is a situation in which information, ideas, or beliefs are amplified or reinforced by transmission and repetition inside an "enclosed" system, where different or competing views are censored, disallowed or otherwise underrepresented.

...every morning I get up, I have my shower and my toast and coffee, and I think about all the things I've got to do.

The problems I've got to deal with. I think about how I'm going to fix them. I plan my day around all that. And I look forward to it.

If you're waking up hating what the way you're about to spend your day, seeing no value, then, there’s a problem and that needs to be fixed.

...

He has been in the job, for the same company, for 51 years, 5 months, 21 days. This dirty, messy, modestly-paid job he likes. That he looks forward to every day.

Content and fulfilled and busy and challenged. Feeling everyday like he's helping in some way to make stuff and things happen.

...

To choose to enjoy what you do, to know you’re good at it or to work till you are, to know you are contributing, for it to be your craft - that there is real gold. It's wealth.

That is, to paraphrase Thoreau, to be paid handsomely and made rich by the satisfaction which one’s labor yields. Propelled not by pecuniary profit, but instead by a sense of purpose, of pride in one's performance, and by passion for proficiency.

Zuckerberg realizes it’s about lassoing the largest audience and keeping it in his ecosystem. It’s fine if you can milk your small fanbase to stay alive, but the profit, the money you want, is in mass. Which is why everybody in music is going for mass.

You can be wrong or ignorant. It will happen. Reality does not care about your feelings. Education does not exist to persecute you. The misinformed are not an ethnic minority being oppressed. What’s that? Planned Parenthood is chopping up dead babies and selling them for phat cash? No, that’s not what actually happened. No, it’s not your opinion. You’re just wrong.

Brian's Rules
Chesky has absorbed management lessons from the pros, but he has also developed his own leadership principles

1. GO TO THE SOURCE
If you have limited amount of time to learn something, spend most of your available time identifying the best source on the topic - then go to that person: "If you pick the right source, you can fast-forward"

2. AMPLIFY YOUR MOVES
Devote your energy to actions that have the greatest impact. "It's like chess," Chesky says. A few key moves can give you the leverage to make other moves.

3. DON'T LEAD BY CONSENSUS IN A CRISIS
"Usually in a crisis you have to go left or right, and everyone wants to go middle. And middle is the storm"

4. REFILL THE RESERVOIR
The best CEOs take inspiration from their outside lives. "If you stop going to fairs, concerts and bars, and you're just working, you lose touch with all that. You have to refill the reservoir."